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LAW 366

Econometrics

Law School

Recommended for route(s):

[ Academia ] [ Regulatory & Policy ] Environmental Law: Clean Tech

Why it is relevant for ...

[ Academia ] [ Regulatory & Policy ] as a Related Elective for those interested in Statistics : Drawing an inference from quantitative evidence lies at the heart of many legal and policy decisions and can be key to an academic's scholarly work. Students should consider taking one or more classes on statistics and statistical inference.
This course develops statistical and empirical research expertise that is useful in a wide range of legal settings. The course is designed to be accessible to students with widely varying backgrounds in statistics or econometrics.

General course
Description:

(Same as PUBLPOL 303B and IPS 205B). After developing/reviewing some statistical background material, the course focuses on the most essential and widely used statistical research tools for public policy analysis, including multiple regression analysis, multilevel modeling and Bayesian analysis. These tools provide vital background for a wide variety of professional pursuits - not only engaging in policy analysis in government, research institutes, and academic settings, but also handling complex empirical issues in litigation, investment banking, consulting or finance. Topics include hypothesis testing, regression specification, logistic regression, probit, heteroscedasticity, serial correlation, errors in the variables, instrumental variables, simultaneous equations, generalized linear models, simulation, model checking, causal inference, and missing data imputation. Extensive hands-on experience with empirical analysis via computer exercises using popular statistical packages is a key component of the course. The skills developed are critical for becoming an intelligent consumer or producer of empirical research. The course is designed to be accessible to students with widely varying backgrounds in statistics or econometrics. Students who desire a more mathematical treatment of the topics may take the two unit "Econometrics: Mathematical Methods" supplement (Law 367) concurrently. A knowledge of basic statistics at the level of QM: Statistical Inference is a prerequisite.

Course Style: A Substantive/Quantitative course is one that teaches the rules and theory of a quantitative subject area that relates to the practice of law.